Singapore's two casinos getting better at regulatory compliance

Singaporeâs two casinos are either getting better at compliance or the city-stateâs new gambling regulator is slacking off on the job.

The Casino Regulatory Authority of Singapore (CRA) recently issued its 2017-18 annual report, covering the 12 months ending March 31, during which the regulator levied total financial penalties of SG$60k (US$43,400) against the operators of the Marina Bay Sands and Resorts World Sentosa integrated resorts.

Genting Singaporeâs Resorts World Sentosa earned the bulk (SG$55k) of the yearâs fines for permitting three underage gamblers and one excluded person to gain access to its casino floor. Las Vegas Sandsâ Marina Bay Sands was penalized SG$5k for allowing a permanent r esident to access its gaming floor without having paid the SG$100 casino entry levy the CRA imposes on local gamblers.

The total fines issued in 2017-18 represent a 63.6% decline from the SG$165k reported in the CRAâs 2016-17 report, which was itself a 60.5% decline from the SG$417.5k worth of financial penalties reported in 2015-16. All of which suggests that the casinos are learning from their past mistakes.

CRA chairman Tan Tee How, who assumed command of the regulator on April 2, added that âcasino-linked crimeâ related to the two mammoth gaming operations was âunder control,â representing âless than 1%â of Singaporeâs overall crime. Tan further claimed that âorganized crime has not entrenched itself in the casinos.â

Tan also celebrated recent statistics which indicated that Singaporeâs overall probable pathological and problem gambling rates had remained stable since the two casinos opened in 2010, and were âpresently b elow 1%.â

The problem gambling benchmark is at odds with Singaporeâs status as the worldâs top jurisdiction when it comes to per capita gambling spending. This summer, Global Betting & Gaming Consultants reported that Singapore residents spent an average US$937 on legal gambling activities, handily outstripping runner-up Australia ($729) and the rest of the top-five: Hong Kong ($566), Canada ($379) and Finland ($354).